A GUIDE TO VACATION OWNERSHIP AT PETIT CREST
Vacation ownership is also known as “timeshare”. It means you have the exclusive right to use specific weeks at a resort during a specific time period. You are purchasing “vacation weeks”. Petit Crest is managed by RAL Resort Property Management, Inc. from Fort Myers Beach, Florida, along with the elected Board of Directors for Petit Crest.
The Annual Meeting of Petit Crest Owners’ Association, Inc. is held in the fall of each year. At that meeting, all members are permitted to vote for the Board Members for that year. Each position is for a three year term.
The timeshares are typically more deluxe than hotel accommodations, featuring condominium or home-style units that are completely furnished with kitchens, living rooms and bedrooms. Vacation ownership is to be enjoyed and used year after year, and can be considered an investment in quality of lifestyle, but not a financial investment. Petit Crest offers “deeded fixed weeks”, which means you own a fractional share of a Villa for a specific period of time (week). The deed for your timeshare gives you ownership of that week, just like your home. It can be sold, leased, or willed to your heirs. Some timeshares are “floating weeks” which means you own a style of unit, but not a specific unit.
Historically, there were 3 seasons of ownership: RED, WHITE, AND BLUE Most recently, the weeks have all rolled into one season, with supply and demand being the leading factor of value. All of our weeks are FIXED weeks, meaning you own a certain Villa in a specific week, every year.
There are other timeshares that sold on a “POINTS” based system. Each unit of timeshare is assigned a value of “POINTS”. You purchase a block of “POINTS” and use those “POINTS” at various resorts within your membership. Different vacation clubs define their “POINTS” in different ways. So there is homework to do when choosing to purchase “POINTS”.
You can use an “EXCHANGE COMPANY” to exchange the timeshare you own, whether it be “deeded fixed weeks”, “floating weeks”, or “POINTS”. RCI and Interval International are the two largest exchange companies. There are many other smaller exchange companies to choose from. When you “exchange” your week, you are giving the “EXCHANGE COMPANY” the right to use your week at Petit Crest, and exchange it for a week at another destination for a similar type unit. A chart is available on-line at www.petitcrestvillas.com that gives an overview of each of the exchange companies, membership pricing, cost to exchange and other pertinent information.
Each month we send our newsletter to all owners with a valid e-mail address. It has important updates on what is happening at Petit Crest and Big Canoe,